Mixed-Use Property with
276 Avenue U Brooklyn, NY 11223
For Sale
$1,369,000
Renovated mixed-use building with a built-out salon, a 2-bedroom apartment above, and a finished basement with private spa rooms.
Property Size1,980 SF
Price / SF$691.41
Days on Market68
Property Features for 276 Avenue U
General Information
- Standard status
- Active
- Size
- 1,980 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1931
Listing Agency:
RE/MAX Real Estate Professiona
(718) 532-2000
Listed By:
Vito Angelo · License #vitlo524
(718) 532-2000
Source:
Compass
Added: May 18
Changed: Jul 23
Last Checked: Jul 23 at 7:08AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Real Estate Professiona
Investment Insights
Based on property information with market context.
This renovated mixed-use property at 276 Avenue U includes a spacious, fully built-out salon space, with a 2-bedroom apartment located above. The lower level is a fully finished basement featuring private spa rooms, supporting additional services within the existing setup. The building has been upgraded throughout with radiant heat, new plumbing, and updated electrical systems.
Full possession is possible at closing. The configuration is designed for owner-operator use, with dedicated space for both the salon level and the additional spa rooms in the finished basement, plus residential living directly above the commercial space.
Full possession is possible at closing. The configuration is designed for owner-operator use, with dedicated space for both the salon level and the additional spa rooms in the finished basement, plus residential living directly above the commercial space.
Key Highlights
- Renovated mixed‑use building with a fully built‑out salon and a 2‑bedroom apartment above
- Salon space includes 2 private spa rooms in the full finished basement
- 2‑lavatory setup with finished, full basement and poured concrete foundation
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $130.7k | $66.00 |
| − Vacancy | −$15.7k | −$7.92 |
| EGI | $115.0k | $58.08 |
| − OpEx | −$43.1k | −$21.78 |
| NOI | $71.9k | $36.30 |
1,980 SF · lease $66.00/SF/yr · vacancy 12.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$1.03M
$898.4K – $1.20M
NOI $71,874 @ 7.0% cap · market cap 5.25%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.64M
$1.43M – $1.91M
NOI $114,761 @ 7.0% cap · market cap 8.38%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
The COLOR Bar
Hair Salon
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FAQs
What type of property is this?
Spa & wellness property - Renovated mixed-use building with a built-out salon, a 2-bedroom apartment above, and a finished basement with private spa rooms.
Where is this spa & wellness property located?
The property is located at 276 Avenue U Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,369,000.
What are key features of this property?
This property features: Renovated mixed‑use building with a fully built‑out salon and a 2‑bedroom apartment above; Salon space includes 2 private spa rooms in the full finished basement; 2‑lavatory setup with finished, full basement and poured concrete foundation
